487,570 Shares in Summit Hotel Properties, Inc. $INN Bought by Globeflex Capital L P

Key Points

• Globeflex Capital purchased 487,570 shares of Summit Hotel Properties, worth approximately $3.4 million, representing about 0.45% of the REIT. Institutional investors collectively own 96.47% of the company.
• Analyst sentiment is generally positive: Summit has a consensus “Moderate Buy” rating and an average price target of $5.40, with recent upgrades from Weiss Ratings and Zacks Research.
• Summit reported quarterly EPS of $0.04, beating estimates, and announced a quarterly dividend of $0.08 per share, equivalent to an annualized yield of approximately 5.2%.

Globeflex Capital L P purchased a new position in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 487,570 shares of the real estate investment trust's stock, valued at approximately $3,418,000. Globeflex Capital L P owned approximately 0.45% of Summit Hotel Properties as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of INN. Amundi boosted its stake in shares of Summit Hotel Properties by 3.4% in the first quarter. Amundi now owns 109,185 shares of the real estate investment trust's stock worth $591,000 after acquiring an additional 3,623 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Summit Hotel Properties by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust's stock valued at $337,000 after purchasing an additional 2,528 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Summit Hotel Properties by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 721,875 shares of the real estate investment trust's stock valued at $3,905,000 after purchasing an additional 9,879 shares during the period. Jane Street Group LLC raised its stake in Summit Hotel Properties by 1.7% during the 1st quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust's stock valued at $896,000 after purchasing an additional 2,793 shares during the period. Finally, Strs Ohio purchased a new position in Summit Hotel Properties in the 1st quarter worth approximately $102,000. 96.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

INN has been the subject of several recent analyst reports. Weiss Ratings upgraded Summit Hotel Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Zacks Research upgraded shares of Summit Hotel Properties from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Finally, Raymond James Financial reissued an "outperform" rating and issued a $7.00 target price on shares of Summit Hotel Properties in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.40.

Summit Hotel Properties Trading Up 0.2%

Shares of INN stock opened at $6.17 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $665.43 million, a price-to-earnings ratio of -26.82 and a beta of 1.26. Summit Hotel Properties, Inc. has a 12-month low of $3.97 and a 12-month high of $7.17. The stock's 50-day moving average price is $6.60 and its 200-day moving average price is $5.48.

Summit Hotel Properties (NYSE:INN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.05. The company had revenue of $199.02 million during the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%.Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. Equities research analysts predict that Summit Hotel Properties, Inc. will post 0.76 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, August 17th. Summit Hotel Properties's dividend payout ratio is currently -139.13%.

About Summit Hotel Properties

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company's portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.

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